With interest rates rising weekly, buyers might be asking themselves, "Why would I want to buy now?" Housing inventory is still abundant, prices are still low, sellers are eager to move on with their lives, and at this writing interest rates have risen to 6.75%. Just 3 weeks ago the rates were at 6%. Over the life of your loan that translates to thousands of dollars. Although rates have increased slightly, they are still near historic lows. The average home is on the market for over 160 days in 2008. In the 1980's interest rates were a whopping 18%. We remember those days. But even THEN homes were selling. People still relocate, sellers still grow their families and require more living space, and people still retire and need to downsize. Buyers are in the BEST position to negotiate a price discount with sellers. A few months from now that may not be the case.
If you are a seller and you don't HAVE to move, we suggest you stay where you are. But expect to wait another 2-3 years for values to rise to 2006 prices. You can still get a fabulous deal on a home right now if you are "upsizing". The "loss" you take on your present home will be made up on your purchase. Feel free to call us if you would like to have a better explanation of WHY? Since home prices have dropped a bit over the last 2 years, that means more buyers can afford to buy your home. See, there ARE advantages to our current market trends. We see the glass as half full. If you want to listen to the news "doom and gloom" you might as well stay where you are, but we suggest asking professionals like The Becker Group, who have been selling real estate since 1983.
If you are worried that you won't get the price you want because of your home's condition, we provide staging advise. We can view your home, make some suggestions on what to do and what not to do to get your home sold fast. If your home is in need of repair, we have reputable contractors we can refer you to that will get your home in tip top shape. The money you spend making the necessary repairs now, will pay dividends in the long run and you will make MOST, ALL, and even MORE than your money back. Afterall when it comes to selling your home, "presentation is everything".
When it is time to decide which Realtor you should hire for the job, you need to be asking a few VERY important questions. Stop by our website at www.beckergrouponline.com and request our special report on "10 Questions to Ask Before You Hire an Agent". Make sure the Realtor you hire can give you their marketing plan in writing and be sure you can get out of your contract upon request. We always allow our clients the ability to cancel their contract with us. We feel if you are asking to "get out" then we have dropped the ball and don't deserve your business. Make sure you find out the average days the Realtor's homes have been sitting on the market and what their list-to-sale ratio is.
Remember, all of our services are FREE of charge until your home sells. Our staging advice is FREE, our Market Analysis is FREE, and we pay all marketing and advertising fees (unlike discount brokers and FSBO websites).
Speaking of For Sale by Owner (FSBO)....If the reason you are considering selling your home on your own is because you can't afford to pay a commission....then you can't afford NOT to have a Realtor represent you. A good Realtor can make you (on average) 18% more and their commission is only 5-6%. Plus you won't have the headaches that accompany the sale of your own home. The Becker Group sells real estate FULL time. This is not a hobby for us and we truly care about our clients' needs. Why not give us a call to see how we are very different from ALL other Realtors. A p.s. to add: Don't fall for the FSBO sites that claim to save you money. We have clients who have had to pay $5000 up front to be listed on a for sale by owner site only to have to list with us in the end. Now did you really save any money? Email us for your confidential advice.
Have a fabulous summer and we hope to see you soon.
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